Now Reading
Friday Morning Briefing
40

Friday Morning Briefing

by The MoleMay 17, 2013

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

Rather meager pickings this morning. After yesterday’s late session drop the E-Mini has managed to slowly crawl its way back above that 25-hour SMA which has been the backbone of the recent ramp higher. The 100-hour is rising steadily and even if the 25-hour gives way it’ll most likely find support there. There is still nothing wrong with this chart and although I dont’ want to be involved on a daily basis short term swing trading off the 25-hour is permissible. But I do recommend you remain nimble – low oxygen environments breed volatility spikes, in particular before weekends.

Here’s my favorite setup this morning – 30-year bond futures (ZB) retesting its 25-hour SMA which is steadily rising. I included the hourly panel as the context here is rather precious – it’s pinned to its 100-day SMA and we may be looking at either a LKGB or a reversal of a fake breach lower. I recommend you follow that 25-hour which should point the way.

 

The future is now – so don’t bring a knife to a raygun fight. If you are interested in becoming a subscriber then don’t waste time and sign up here. A Zero subscription comes with full access to all Gold posts, so you actually get double the bang for your buck.

Cheers,


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator